Tag Archive: Japan

Japan is one of the world’s most crypto-friendly nations at the moment. It made digital currencies legal tender in April last year and enjoys a free and unfettered crypto trading environment. The drive behind this adoption of virtual currencies is an efficient and structured framework of regulation. This is about to be improved with the merger of two of the country’s leading cryptocurrency groups. According to reports the Japan Blockchain Association and the Japan Cryptocurrency

Japan’s Financial Services Agency raided the offices of the hacked Coincheck cryptocurrency exchange to see if they had adequate funds to repay customers. The recent hack of the Coincheck cryptocurrency exchange in Japan sent a shock wave through the crypto world. The total value of the loss was staggering, coming in at around $530 million. The Financial Services Agency (FSA) originally gave the exchange essentially a slap on the wrist, but due to the seriousness

After what can only be described as a rotten day in crypto land things have perked up a little during the Asian trading session this morning. Bitcoin is still lulling around the $10-11k area and most other altcoins have made some small gains on yesterday’s losses. Lisk, however, has shot up a considerable amount, around 60% in a matter of minutes. According to reports, Lisk has been listed on Japan’s primary exchange BitFlyer. This caused

Tokyo-based SBI Holdings has announced that its digital assets exchange, SBI Virtual Currencies, which launched in beta yesterday, will list Ripple (XRP) as the only cryptocurrency supported at launch. XRP is the first and the only cryptocurrency to be listed on SBI Virtual Currencies during its initial launch period. The newly released digital asset exchange, owned by SBI Holdings, is designed to streamline cryptocurrency trading for its institutional customers and individuals in Japan. The company originally

Japan’s popular chat app, Line, has announced that they have filed to launch a cryptocurrency exchange within the app. While some countries are clamping down on cryptocurrency and exchanges, Japan has opened their doors. This had led to a marked rise in crypto-related businesses seeking to do business within the country. Of course, there are home-grown businesses looking to hop on board the crypto train as well. The latest to do so is Line, the

Japan’s financial regulator has ordered hacked exchange Coincheck to “improve” but appears uninterested in restricting cryptocurrency activities. FSA: ‘Don’t Do It Again!’ In an order to Coincheck, which lost $530 million to hackers last week, the Financial Services Agency (FSA) of Japan has demanded a full explanation of what went wrong, along with a raft of upgrades for “prevention of similar events in the future.” Following news that malicious parties had compromised the exchange’s hot

Japanese crypto exchange Coincheck announced that it would reimburse roughly $425 million to its users affected by the recent hack. Usually when a cryptocurrency exchange is hacked, its users are out of luck. Valuable coins that have been stolen are never seen again, leaving users with empty wallets, shattered hopes, and lots of anger. However, the recent major hack of Coincheck is playing out differently as the Japanese exchange announces it will pay back $425

Mitsubishi UFJ Financial Group (MUFG) is launching an initiative to open a new exchange and issue its own virtual currency: the “MUFG coin.” By controlling the exchanges themselves, MUFG plan to suppress fluctuations in the price of MUFG coins in order that they can be used stably for settlement and remittance. The MUFG coin, due to their distribution being made available on a centralized exchange, can be directly overseen by the bank. In addition, the

Many countries have shied away from cryptocurrencies and even clamped down on trading and using them. These tend to be the more authoritarian nations such as Russia, China, and Indonesia. Japan, conversely, is embracing the blockchain revolution with open arms and even has a group known as the Virtual Currency Girls who are attempting to bring more awareness to the masses. Bitcoin is considered legal tender in Japan, the world’s third largest economy. According to

Bitcoin and cryptocurrencies had a year of exceptional growth in 2017. The cryptocurrency market cap managed to surpass the valuation of $638 billion and many experts believe that it will further increase. The Cryptocurrency Job Market 2017 was one of the most exciting and interesting years for the cryptocurrency market. Bitcoin and Ethereum had a spectacular bull run and managed to make huge gains for investors and traders. We also had a huge number of

The majority of cryptocurrencies have been taking a break this week with very little movement in either direction. This morning, however, saw declines across the board during the Asian trading session, all except Ripple which bucked the trend again and saw gains. Bitcoin had rebounded a little from its previous slump to $12,000 but it was short-lived, the digital currency is going through another sell-off from a high of $16,900 yesterday down to $14,700 today

The nations of Asia are responsible for well over half of the total global volume of cryptocurrency trading. The Asian trading session often dictates how the rest of the day will play out when traders wake up in Europe and the US. However, the governments of the region are growing uneasy about the increasing appetite their people have for cryptocurrencies. One of the world’s largest exchanges, Bitfinex, is owned by a Hong Kong-based company. South

In remarks pertaining to the upcoming G20 meeting in 2018, Japanese Finance Minister Taro Aso said that Bitcoin was not a credible currency. While the unwashed masses are celebrating the massive gains Bitcoin and other cryptocurrencies are enjoying this year, the political and financial elites are not so jolly on crypto success. A lot of governments and central banks are looking at ways to rein in and control cryptocurrency, and many such involved individuals can

Chinese exchange Huobi has announced it is launching two cryptocurrency exchanges in Japan in conjunction with the SBI Group. Huobi And SBI’s ‘In-Depth Cooperation’ Huobi, since China’s fiat exchange, ban has been actively looking to expand its international activities. It has now announced that it will develop “digital assets and financial services in Asia” via the partnership with the SBI Group. An accompanying press release from Thursday explains: According to the diversified needs of cryptocurrency investors,

The CEO of one of Japan’s largest exchanges says it will launch cryptocurrency futures “as soon as possible” once frameworks are in place. Securities Law Only Barrier To Japan’s Bitcoin Futures In the first major copycat move since the announcement by US regulators that futures could begin trading this month, booming Bitcoin market Japan will now study how it can follow suit. “Once the Financial Instruments and Exchange Act recognizes cryptocurrencies as financial products, we

Japan consumers rate “cryptocurrency” a more influential ‘buzzword’ than anything except six terms in 2017, data shows. Japan: Cryptocurrency Is 7th Biggest ‘Buzzword’ Results of a public vote for the so-called ‘buzzwords’ of 2017 have concluded that cryptocurrency is a top-ten term for the year, coming in at number seven, local news outlet ITmedia reports. "Crypto Currency" (仮想通貨) is now among the top 10 buzzwords in Japan https://t.co/54XEwHUZMw — cnLedger (@cnLedger) December 4, 2017 The

After the recent clampdown by the Chinese government, many cryptocurrency operators are looking to relocate to other Asian countries that are much more welcoming. There are quite a few interesting features surrounding cryptocurrencies, such as Bitcoin and Ethereum. Chief amongst these is decentralization, which means that the various facets of cryptocurrency, such as exchanges, are not constrained by national borders. This is something that Chinese authorities are now finding themselves having to contend with. The

The manager and operator of Japanese Ripple exchange Ripple Trade Japan has been arrested for allegedly defrauding a customer for ¥1.4 million ($12,470) with potentially further charges pending. Yuki Takenaka, a 31-year-old head of Ripple Trade Japan allegedly defrauded a man from the Miyagi Prefecture of Japan back in March 2015, knowingly allowing him to deposit funds despite the fact that the company was foundering and unable of processing refunds. According to police, Takenaka, a resident of Kyoto has

South Korea has had Bitcoin fever in the past few weeks, and the fire just continues to be fueled. Top exchange Korbit has been acquired by gaming company giant Nexon for 91 billion Korean won. The Growing South Korean Market South Korea has been disrupting the charts when it comes to cryptocurrency trade volume, and the old money is noticing. Many companies in South Korea are hopping aboard the train, investing heavily in the nation’s crypto

A Japanese company, GMO Internet Group, is looking to jump into bitcoin mining with new chips that could start a digital arms race. One thing you can say about the subject of bitcoin mining is that it’s never dull. New players and technologies continue to rise up to keep everything interesting. The newest player to venture into bitcoin mining is GMO Internet Group, which is based in Tokyo, Japan. The company has long been associated

Japanese authorities are looking into using Bitcoin’s blockchain technology to better manage their property and real estate records. State of Bitcoin in Japan Since the MT.GOX hacking incident, the Japanese government has carefully tried to properly regulate the bitcoin trading market in the whole country. In April 2017, the Japanese government passed a ‘Bitcoin Regulation Law’, which forced all bitcoin exchanges in Japan to properly implement know-your-customer (KYC) and anti-money laundering (AML) mandates. In addition, the passed law

As altcoins continue to gain popularity throughout the world, Bitcoin exchanges in China are also getting in on the action and listing alternative cryptocurrencies. Huobi to Support Altcoins As the moratorium on cryptocurrency withdrawals is expected to soon end in China, exchanges in the country seem to be turning their attention to alternative cryptocurrencies. Two days ago, one of the big three exchanges in China, Huobi, announced it will launch Ethereum trading on May 31. The announcement reads: We

As Bitcoin continues to break new price records, people in cities around the globe are turning to the internet to find out more. Bitcoin Trending Worldwide As Bitcoin continues to rally, this time nearing the $2,300 mark, its worldwide popularity has become undeniable. With over $36 Billion in market capitalization Bitcoin is slowly walking towards mainstream adoption, a long and arduous journey that began more than eight years ago. Not only are millions of dollars pouring into